SEFATENG CHROME MINE

Sefateng Chrome Mine (Pty) Ltd is a chrome ore mine situated on the Eastern Belt of the Bushveld Igneous complex in Limpopo Province. Three local communities, namely the Ga-Phasha, Ga-Mampa and Tjibeng are shareholders in the mine with no current and/or future funding obligations. The other major shareholders are Corridor Mining Resources (Pty) Ltd (100% owned by the Limpopo Economic Development Agency) and Bolepu Holdings (Pty) Ltd both whom which have contributed significant funding in order to create value and ultimately bring the project into fruition. Sefateng Chrome Mine (Pty) Ltd mining right was granted at the end of 2014 and open cast mining commenced early 2015. In 2015 Sefateng Chrome Mine was approached by both Metmar Limited and MTC Underground Mining where both expressed interest to jointly develop the underground mine on behalf of Sefateng Chrome Mine. At a Sefateng board meeting held on 5 October 2015, an underground mine development proposal was presented by Mr D...